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Apr 20, 2013
04/13
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now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in which the united states is living beyond its means. now, those remarks were to try to get you interested. people don't usually pay money to hear me speak. i assume you are all at least somewhat interested. if you look at free trade, once you understand there's an issue here with the trade situation, if any of you got a wallet on you, pull out a ten dollar bill. the guy on the ten dollar bill etary of the treasury, ca the intellectual architect of american capitalism, one of the founding father, and an envowed protectionist as was abraham lincoln, as was virtually every president prior to world
now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in...
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Apr 20, 2013
04/13
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have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic. thank you very much. >> thank you very much. [applause] >> let me just start the questions by asking you, we have seen major initiatives in both the united states and europe to regulate banks. is more coordination needed between the two of us and if so, how would you recommend that we could achieve that. >> obviously more coordinate needed, but we try to find solutions in europe. we know that u.s. has in some way gone ahead, but we will work -- we discuss -- it's not most problematic issue actually, to have common understanding
have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic....
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies all competing to get their ideology and their policies through they all think they have the best policy no reason to bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies all competing to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy i let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies off impeding to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long ter
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy i let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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Apr 22, 2013
04/13
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greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european supervision of banks because our banking works not only in the frame of one member state, but all of us. we need a european mechanism and a european supervision. we haveimemented, we will implement a supervise mechanism in the coming weekings. it -- weeks. it has been already decided. we will build, we have a european regulation on deposit insurance. we have a european regulation on our -- it is not yet decided, but it's drafted, and it is on the way on regulation that was -- [inaudible] mechanism as well. and, therefore, we are working step by step in the dire
greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european...
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Apr 23, 2013
04/13
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the eurozone's collective deficit decreased in 2012. its most financially strapped countries, including ireland, greece and italy, have trimmed or stabilized deficits, while more secure nations like germany have pulled back on spending. meanwhile, greece, ireland, italy and portugal each still have debt that is higher than a year of the country's economic output. general motors drives up sales in china. the car company sold one million cars in china faster than it ever has before. last year, it took until may 7th before gm sold its one millionth vehicle. the news comes during the shanghai auto show. there are more than one hundred automakers in china. sales growth is exploding, and american car companies are hoping to compete. singapore is a growing "money magnet" for the wealthy. a new report says singapore is on track to replace switzerland as the largest offshore wealth hub. switzerland has $2.8 trillion in assets. $2.1 trillion are from offshore. singapore has $550 billion in assets under management. nearly $450 billion are from off
the eurozone's collective deficit decreased in 2012. its most financially strapped countries, including ireland, greece and italy, have trimmed or stabilized deficits, while more secure nations like germany have pulled back on spending. meanwhile, greece, ireland, italy and portugal each still have debt that is higher than a year of the country's economic output. general motors drives up sales in china. the car company sold one million cars in china faster than it ever has before. last year, it...
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Apr 24, 2013
04/13
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target, the government will not waste this time and try to keep the deficit under control. kelly, over to you. >> do you wear suits from -- >> sorry? no, it's not. >> good looking suit. joining us from madrid. we'll hear more about that on friday. i bring this up because luxury brands have been under pressure amid slower growth in china. there are reasons for companies to stay upbeat. >> it is it stylish, sleek and highly sought after. luxury goods the envy of fashionistas all around the world from the streets of milan to beijing, luxury fashion is still in demand. as europe remains in the doldrums and there are signs of slowing, it begs the question how much longer can it last? in sidney this week, an italian label believes there are growth opportunities in the world's second largest economy. >> i think that we were used to double digit growth and now we have to be ready for slower growth. i do believe there is growth to look for in china. we are in approximately 35 cities and there are at least double of the cities that we can go in the next couple of years. >> the compan
target, the government will not waste this time and try to keep the deficit under control. kelly, over to you. >> do you wear suits from -- >> sorry? no, it's not. >> good looking suit. joining us from madrid. we'll hear more about that on friday. i bring this up because luxury brands have been under pressure amid slower growth in china. there are reasons for companies to stay upbeat. >> it is it stylish, sleek and highly sought after. luxury goods the envy of...
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Apr 22, 2013
04/13
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spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've seen in greece last year as a result, of course, the spanish debt is rising. it's now 84.2% of the spanish gdp. that's a sharp increase if you compare to the level before the prices in spain. and there's a paradox in that announcement. yes, we've seen some positive reaction on the bond market. the other part is that it will actually help the government to ask for more time to reduce its public deficit below 3% of ggdp. the new target will be 2016, two years later than expected, and that will give the government a bit of precome, a bit of marg
spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've...
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Apr 23, 2013
04/13
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so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growth incentive measures. that's the reason why the stock market is doing well and that's the reason why we've seen yesterday the bond market failing to the lowest level in 2 1/2 years, despite the report from eurostadt saying spain last year had the highest deficit in europe and the latest announcement from the bank of spain in terms of economic growth. >> stephane, by the way, if you could order pizza through your television -- i've seen that television, it's pretty big -- would you? >> sorry, if i could order pizza? >> yes. through your television. would you be interested? >> well, i have reached an age i can't afford -- i can't eat pizza. but, you know, one piece brings probably two hours, three hours at the gym. >> not worth it. that might tie in nicely with what's going on in our next story. stephane, thank you very much. pizza and video games may now be going hand in hand. in fact, it might be the perfect food to chow down on while you're
so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growth incentive measures. that's the reason why the stock market is doing well and that's the reason why we've seen yesterday the bond market failing to the lowest level in 2 1/2 years, despite the report from eurostadt saying spain last year had the highest deficit in europe and the latest announcement from the bank of spain in terms of economic growth. >> stephane, by the way,...
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Apr 17, 2013
04/13
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low yields make pension deficits worse and make corporates less likely to invest. they backed themselves into a corner here. >> what's your take? >> i do think that qe has helped the economy over the past four years. our own view is you get diminishing returns to each slug of qe as you go along. we suspect in due course that we'll get another expansion of asset purchases which at the margin may help and there may be psychological boost to markets but the other things to watch out for are the success or otherwise of bank of england's funding for lending scheme which we're relatively hopeful will help to expand the supply of mortgage credit. >> it doesn't seem like it's done much frankly. >> it's a slow burn. the last couple of months of data have been disappointing but through the back end of the second half of last year what we saw was a steady increase in mortgage approvals and that's helpful. the other thing to watch out for is what's happening to the small business sector. we have been calling for some sort of government if not bank of england action to help cha
low yields make pension deficits worse and make corporates less likely to invest. they backed themselves into a corner here. >> what's your take? >> i do think that qe has helped the economy over the past four years. our own view is you get diminishing returns to each slug of qe as you go along. we suspect in due course that we'll get another expansion of asset purchases which at the margin may help and there may be psychological boost to markets but the other things to watch out...
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deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stock when we discovered that in fact the courts are now allowing. pensions to be thrown into bankruptcy proceedings for the first time and which means that when there are bankruptcies and many see pal is in california pensions may have to get a haircut and then they happen and one in the number of ways and one of which is to do raise contributions it would be to do you know of the benefits and this hasn't played out yet but it contravenes a california state law so we'll have to see how that that washes out all right so it's not quantitative easing in countries where it's a forced transfer of wealth from savers to speculators using artific
deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stock when we discovered that in fact the...
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deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stocky we discovered that in fact the courts are now allowing. pensions to be thrown into bankruptcy proceedings for the first time and which means that when there are bankruptcies and municipalities in california pensions may have to get a haircut and then they happen and one in the number of ways and one which is to raise contributions that will be to do no of the benefits and this hasn't played out yet but it contravenes a california state law so we'll have to see how that that washes out and so it's not quantitative easing in countries where it's a forced transfer of wealth from savers to speculators using artificially low interest rat
deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stocky we discovered that in fact the courts...
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for the meantime as our european countries wrestle with their budget deficits and slash their military spending it's becoming harder for nato to stay afloat now the alliance is top officer has slammed the e.u. allies for quote getting a free ride and while leaving the u.s. to bear the burden of the defense finances now crisis hit nato states have already chopped more than forty five billion dollars from the alliance is treasury that's the equivalent of germany's entire annual military budget now the number of european troops in the u.s. led bloc though has also plummeted from two point five million in two thousand now to one point eight six million and while the u.s. is also trimming its own military costs its share of the budget has still risen to seventy five percent of the total and as artists are silly reports from brussels concerns over nato's viability continue to grow. the nato secretary general anders fogh rasmussen had actually come out and warned its partners against the danger of more defense spending cuts as we've already seen especially from its european partners so this o
for the meantime as our european countries wrestle with their budget deficits and slash their military spending it's becoming harder for nato to stay afloat now the alliance is top officer has slammed the e.u. allies for quote getting a free ride and while leaving the u.s. to bear the burden of the defense finances now crisis hit nato states have already chopped more than forty five billion dollars from the alliance is treasury that's the equivalent of germany's entire annual military budget...
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deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stopping we discovered that in fact the courts are now allowing. pensions to be thrown into bankruptcy proceedings for the first time and which means that when there are bankruptcies and municipalities in california pensions may have to get a haircut and that may happen and one in the number of ways and one of which is to to raise contributions it would be to do no of the benefits and this hasn't played out yet but it contravenes a california state law so we'll have to see how that that washes out all right so it's not quantitative easing in countries where it's a forced transfer of wealth from savers to speculators using artificially
deficit's we have every financial issue they have for we what we do have and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stopping we discovered that in fact the...
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well as european countries wrestle with their budget deficits and slash military spending it's becoming harder for nato to stay fiscally sound the alliance is top officer has slammed the e.u. allies for getting a free ride with the u.s. left to bear the brunt of defense finances crisis hit nato states have already charred more than forty five billion from the alliance treasury the equivalent of germany's whole military budget the number of european troops in the u.s. led bloc has also dropped from two and a half million in two thousand to one point eight six million now and one of us is also trimming its military cos its share of the budget still seventy five percent of the total. reports from brussels concern over nato as future could be growing. the nato secretary general anders fogh rasmussen had actually come out and warned its partners against the danger of more defense spending cuts as we've already seen especially from its european partners this opinion was also echoed by the former u.s. defense secretary robert gates he said that if this trend does continue to be alliance it cou
well as european countries wrestle with their budget deficits and slash military spending it's becoming harder for nato to stay fiscally sound the alliance is top officer has slammed the e.u. allies for getting a free ride with the u.s. left to bear the brunt of defense finances crisis hit nato states have already charred more than forty five billion from the alliance treasury the equivalent of germany's whole military budget the number of european troops in the u.s. led bloc has also dropped...
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Apr 23, 2013
04/13
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it is deficit-reduction without a tax increase. i think it's the kind of deficit reduction that we can get bipartisan support for in the country. grow up all sorts of other issues. what about public education? public schools don't teach kids how to read english well and don't teach them american history. but that's a problem, then we need education reform. that is being worked on a state- by-state. that's a problem for kids born here as well as everybody else, in terms of the quality of education they're getting. what about the welfare system? 185 means-tested welfare programs. bill clinton worked with republican congress to reform aid to families with dependent children. we can make progress on the others as well, and reforming welfare is important and needs to be done. it saves money and keeps people from getting locked into welfare dependency. but none of those are arguments for getting in the way of immigration reform. then there's the question of entitlements medicare and get benefits because they are born, a question of immig
it is deficit-reduction without a tax increase. i think it's the kind of deficit reduction that we can get bipartisan support for in the country. grow up all sorts of other issues. what about public education? public schools don't teach kids how to read english well and don't teach them american history. but that's a problem, then we need education reform. that is being worked on a state- by-state. that's a problem for kids born here as well as everybody else, in terms of the quality of...
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Apr 16, 2013
04/13
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doesn't help us with our trade deficit with china. doesn't help us export more grain to russia. $168 billion we ask american taxpayers to dig into their pocket and pay for the pleasure of paying nair income taxes. more -- their income taxes. more and more americans, mr. speaker, find they can't do their own taxes, that they have to go to a professional tax preparer. i don't mind paying my taxes. i think i'm getting my money's worth. america is a great country. but to help somebody help me pay the taxes makes me angry and it's wrong. it's wrong. you know, i look at what's happened in those former soviet block countries, mr. speaker. you know, those former soviet block countries have all moved to flat taxes? what they found is when they have high tax rates and very difficult to comply with, folks just didn't pay their taxes at all. but when they lowered that rate, made it flat, applied it across a broad base, folks began to voluntarily emit -- remit their taxes. it's not rocket science. it's what we've seen in example after example afte
doesn't help us with our trade deficit with china. doesn't help us export more grain to russia. $168 billion we ask american taxpayers to dig into their pocket and pay for the pleasure of paying nair income taxes. more -- their income taxes. more and more americans, mr. speaker, find they can't do their own taxes, that they have to go to a professional tax preparer. i don't mind paying my taxes. i think i'm getting my money's worth. america is a great country. but to help somebody help me pay...
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Apr 16, 2013
04/13
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by almost 2% because the country is a big importer for both commodities and a lower current account deficit will leave the rbi more room to cut interest rates. back to you. >> sixuan, thank you very much indeed for that. lower oil and gold boosting the inn market. >> precisely and significantly. there wasn't much else throwing life into the market. >> there's always a different correlation somewhere. >> a silver lining? maybe. >>> the dow s&p 500 and nasdaq tumbled to their lowest levels yesterday since november. joining us now, gina sanchez. welcome. >> hi. >> so is this it, is this a buying opportunity? do you look at all the declines that we've seen and decide that this is now a pivot point? >> well, i've been calling for consolidation sometime, you know, generally around april is when you start to see a consolidation and then you sell in may and go away. i actually think that is probably going to be what it's going to work out to. obviously, we're getting the signals that have been driving some of this consolidation have been growth. obviously, the bad news at the end of the day with wh
by almost 2% because the country is a big importer for both commodities and a lower current account deficit will leave the rbi more room to cut interest rates. back to you. >> sixuan, thank you very much indeed for that. lower oil and gold boosting the inn market. >> precisely and significantly. there wasn't much else throwing life into the market. >> there's always a different correlation somewhere. >> a silver lining? maybe. >>> the dow s&p 500 and nasdaq...
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Apr 22, 2013
04/13
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immigration and more immigration makes us a richer country not a poor country and ofps out on questions deficits and economic growth. from a center-right perspective and one of the groups with talk to in law enforcement as you go state to state, the austin chief of police is a big advocate of comprehensive -- when we were in indianapolis, same thing. we always talk to our police officers and to the guys with badges as well as the business community and religious community. thank you and thank you mr. chairman. around.l do the last i know it has been a long day for the witnesses. when the fbi was investigating travel, he did not find his trip to russia. they typed in his name incorrectly. our bill requires that travel exit data be base by swiping the passport. we are making sure it is machine-readable on exit. dhs says this would have helped the fbi in this case. do you agree? >> yes. absolutely. >> good. one example of many where we are tightening things up. that would have been relevant. now, i mentioned this to your previous witness from your group. i guess you are the second witness. you folk
immigration and more immigration makes us a richer country not a poor country and ofps out on questions deficits and economic growth. from a center-right perspective and one of the groups with talk to in law enforcement as you go state to state, the austin chief of police is a big advocate of comprehensive -- when we were in indianapolis, same thing. we always talk to our police officers and to the guys with badges as well as the business community and religious community. thank you and thank...
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Apr 18, 2013
04/13
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spending on personnel, goods, services and other current spending, allowing the country to meet its 5.5% deficit target for 2013. this follows parliament voting down other measures, throwing the country's needed fund-raising into doubt and raising concern more broadly about the eurozone. but now it looks as though spending cuts compensate for the austerity measures that were rejected by the court are going forward. so perhaps providing some relief to those worried that this would throw the eurozone's progress into doubt. not a major move on the back of that news. >>> straight ahead on "worldwide exchange," uk retail sales figures for march will hit the tape in just a couple minutes' time. we'll break down those numbers for you live. >>> plus, strong first quarter results. can they maintain their edge? >>> welcome back tos with was. these are your headlines. stocks in europe recovering from the worst day in nine months. performance from basic resources amid concern about declining commodity prices spp fear of falling demand for iphones and ipads is veding to asia where shares of apple suppliers i
spending on personnel, goods, services and other current spending, allowing the country to meet its 5.5% deficit target for 2013. this follows parliament voting down other measures, throwing the country's needed fund-raising into doubt and raising concern more broadly about the eurozone. but now it looks as though spending cuts compensate for the austerity measures that were rejected by the court are going forward. so perhaps providing some relief to those worried that this would throw the...
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Apr 17, 2013
04/13
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-- rein in our deficit. our secretary seems to have taken this message to heart. identifying some $1.3 billion in cost savings this year and more than $4 billion since 2009 and continues to move to a risk-based approach, an effort to save more money. but to do so in a smart way. i'm happy to see in this budget proposes a much-needed increase for cybersecurity which will help the department fulfill its significant cyberresponsibilities. passing legislation to compliment the president's executive order and address the cyberthreat is one of our highest priorities. i also welcome the administration's continued commitment to securing our nation's borders by maintaining staffing for the border patrol its ath its current historic levels and adding more than 3,400 protection officers to staff our ports of entry. these critical resources are paid for in part with modest fee increases. during my recent trips to our borders in arizona, where secretary napolitano, senator mccaul nd congresswoman joined me, i've been and
-- rein in our deficit. our secretary seems to have taken this message to heart. identifying some $1.3 billion in cost savings this year and more than $4 billion since 2009 and continues to move to a risk-based approach, an effort to save more money. but to do so in a smart way. i'm happy to see in this budget proposes a much-needed increase for cybersecurity which will help the department fulfill its significant cyberresponsibilities. passing legislation to compliment the president's executive...
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Apr 17, 2013
04/13
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CNBC
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>> the budget deficit situations, the debt situations in germany and france are certainly so much better than the rest of the periphery. why now? what has suddenly happened now? certainly growth there's very vulnerable. unemployment rate for all of europe, now 12%, a record high, the ecb's reluctant to ease because they don't think it'll actually help where it needs to help with lending small and medium-sized businesses. but those thing alone, to me, wouldn't justify a downgrade now. but it does to me, bigger picture, just remind us how nervous the markets are. i think that's the take away. >> you said going back to the things you said are somewhat positive. wealth effects, you've got home and equities. >> yep. >> although people think the consumer is not great and that it's still deleveraging. you've got politics, not as much of a head wind as it was. china slowing, but not a hard landing. >> right. heard that from the director. >> central banks are getting easier, maybe not here, talking tapering, the rest of the world getting easier. no reason to reduce risks in equities. that sum thi
>> the budget deficit situations, the debt situations in germany and france are certainly so much better than the rest of the periphery. why now? what has suddenly happened now? certainly growth there's very vulnerable. unemployment rate for all of europe, now 12%, a record high, the ecb's reluctant to ease because they don't think it'll actually help where it needs to help with lending small and medium-sized businesses. but those thing alone, to me, wouldn't justify a downgrade now. but...
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Apr 19, 2013
04/13
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CSPAN
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sorry, deficit-neutral. thank you, everybody. [applause] >> and it update on the manhunt for the suspect in the boston marathon bombings, overnight his brother was killed, also in mit officer was killed in a shootout. the younger brother is on the loose. and lockdown in the boston area. they were last seen in the water to an area just outside boston. and in his cover the short while ago, the police said the boston area continues on lockdown as they go house to house. they also plan -- a controlled explosion at a house in cambridge, massachusetts, some timeay. amtrak is suspending service between new york and boston. senior democrat associated press as on the house intelligence committeeay the to the st ng suspects had before they confronted police., there was a briefing earlier today. across our networks, we will keep you posted with the latest news and updates. we continue in about an hour in 10 minutes we will take you live to the state department. john kerry, whose brief this morning at the white house on the boston investigat
sorry, deficit-neutral. thank you, everybody. [applause] >> and it update on the manhunt for the suspect in the boston marathon bombings, overnight his brother was killed, also in mit officer was killed in a shootout. the younger brother is on the loose. and lockdown in the boston area. they were last seen in the water to an area just outside boston. and in his cover the short while ago, the police said the boston area continues on lockdown as they go house to house. they also plan -- a...
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Apr 20, 2013
04/13
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it would over 10 years increased deficit by about $18 billion. it doesn't tell like a lot now but there are things to remember about the $18 billion. since that time, many of the things that were policy , there has been spending on that about half of what the cbo expected would be needed during those comparable policy objectives now maybe cheaper and generate less and the way of spending. is that thehing cbo did not use a dynamic scoring. you did not take into account the potential economic growth affects. the last piece of what is ,appened is since that score congress has passed and the president has assign the affordable care act. my reading of this legislation is is a bipartisan commitment that those who would become registered provisional immigrants who are here illegally, would not be eligible 10,benefits not for probably not for 15. so there will not be a budgetary impact. over the longer term, there is something congress should keep on and terms of the budgetary outlook. i would be happy to discuss with you the impact of the bill in that r
it would over 10 years increased deficit by about $18 billion. it doesn't tell like a lot now but there are things to remember about the $18 billion. since that time, many of the things that were policy , there has been spending on that about half of what the cbo expected would be needed during those comparable policy objectives now maybe cheaper and generate less and the way of spending. is that thehing cbo did not use a dynamic scoring. you did not take into account the potential economic...